Onchain Analyst Links YZY, LIBRA Wallets To $23M Extraction Scheme

A pseudonymous blockchain analyst known as Dethective has linked a wallet that profited from Kanye West's YZY token launch to wallets involved in the earlier LIBRA token extraction, indicating the same actor or a closely coordinated group exploited insider information to pull over $23 million from both launches. The YZY sniper wallet bought $250,000 worth of tokens at $0.20 each, significantly below market price, and quickly turned this into over $1 million in profit, which was funneled into a treasury wallet also linked to the LIBRA extraction flow. Two "Libra sniper" wallets had previously extracted $21 million during LIBRA's launch six months earlier, with funds from both token launches later moved through platforms like Kamino and Binance. Onchain analytics firms Nansen and blockchain security company Cyvers confirmed the overlap between the YZY sniper wallet and LIBRA-related wallets but could not definitively tie the activity to Hayden Davis, the controversial figure behind LIBRA. Analyst Dethective and others suggest clear inside information was likely used, as the wallet exclusively sniped $YZY and $LIBRA tokens with large positions, while notable traders like Naseem, linked to profits from the TRUMP memecoin, also bought YZY early using previously earned funds. The YZY token surged to a $3 billion market cap shortly after launch but then declined sharply, highlighting the volatility surrounding these launches and the potential influence of privileged access.